The Cox Table is a chiropractic powered table designed to allow the delivery of spinal manipulation to spinal pain patients, those upright, those stooped in pain, those in a wheelchair. The Cox Table is accommodating with its elevating column for patient loading and unloading as well as physician ergonomic positioning to deliver the adjustment.
In deciding to purchase or lease The Cox Table, you as the business person are surely looking for potential savings. Some tax incentives may or may not apply to your chiropractic business situation. Consult with your tax professional about the applicability of these incentives to your business.
U.S. Tax Incentives
The U.S. government offers small businesses a few incentives for improving their facilities and building their businesses. This is not tax advice.
ADA Tax Credit for Disabled Access (Section 44) / up to $5000 tax credit
Section 179 Small Business Deduction / up to potential $6020 deductions of IRS capital expenditures
- Business Equipment Depreciation (check on current availability with your accountant) via Section 179 offers business depreciation deductions that help in the first year of the equipment's purchase. See http://www.section179.org/. See the calculator at http://www.section179.org/section_179_calculator.html.
- From the above website:
- Section 179 limits for 2011 were increased by the 'Jobs Act of 2010' - allowing businesses to write-off up to $500,000 of qualified capital expenditures subject to a dollar-for-dollar phase-out once these expenditures exceed $2 million.
- Bonus Depreciation was also increased to 100% by the 'Tax Relief Act of 2010' - allowing businesses that exceed the $2 million cap to write-off 100% of qualified assets using first year Bonus Depreciation. Also, small businesses that are not profitable in 2011 can use 100% Bonus Depreciation (on new equipment only) and carry-forward the loss to future profitable years.
If you have any questions, Email us -or- call us direct at Haven Innovation - 844-614-2836 or 616-935-1040. If no answer, call Cox Technic at 800-441-5571. We are here to help!